Savings Plan and Future Cost Estimation for Union College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$197,058
Monthly savings required$1,560

How much will it cost to send your child to Union College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $788,231.33 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,559.88 into a 529 or other college savings plan earning and after tax or tax exempt return of 7% will be necessary to achieve this balance.

Assumptions

Current Annual Cost$75,990.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,559.88 $0.00 $0.00 $1,559.88
2 $1,559.88 $1,559.88 $0.00 $8.82 $3,128.58
3 $3,128.58 $1,559.88 $0.00 $17.69 $4,706.15
4 $4,706.15 $1,559.88 $0.00 $26.61 $6,292.64
5 $6,292.64 $1,559.88 $0.00 $35.58 $7,888.10
6 $7,888.10 $1,559.88 $0.00 $44.60 $9,492.58
7 $9,492.58 $1,559.88 $0.00 $53.67 $11,106.13
8 $11,106.13 $1,559.88 $0.00 $62.80 $12,728.81
9 $12,728.81 $1,559.88 $0.00 $71.97 $14,360.66
10 $14,360.66 $1,559.88 $0.00 $81.20 $16,001.74
11 $16,001.74 $1,559.88 $0.00 $90.48 $17,652.10
12 $17,652.10 $1,559.88 $0.00 $99.81 $19,311.79
13 $19,311.79 $1,559.88 $0.00 $109.19 $20,980.86
14 $20,980.86 $1,559.88 $0.00 $118.63 $22,659.37
15 $22,659.37 $1,559.88 $0.00 $128.12 $24,347.37
16 $24,347.37 $1,559.88 $0.00 $137.66 $26,044.91
17 $26,044.91 $1,559.88 $0.00 $147.26 $27,752.05
18 $27,752.05 $1,559.88 $0.00 $156.91 $29,468.84
19 $29,468.84 $1,559.88 $0.00 $166.62 $31,195.34
20 $31,195.34 $1,559.88 $0.00 $176.38 $32,931.60
21 $32,931.60 $1,559.88 $0.00 $186.20 $34,677.68
22 $34,677.68 $1,559.88 $0.00 $196.07 $36,433.63
23 $36,433.63 $1,559.88 $0.00 $206.00 $38,199.51
24 $38,199.51 $1,559.88 $0.00 $215.99 $39,975.38
25 $39,975.38 $1,559.88 $0.00 $226.03 $41,761.29
26 $41,761.29 $1,559.88 $0.00 $236.12 $43,557.29
27 $43,557.29 $1,559.88 $0.00 $246.28 $45,363.45
28 $45,363.45 $1,559.88 $0.00 $256.49 $47,179.82
29 $47,179.82 $1,559.88 $0.00 $266.76 $49,006.46
30 $49,006.46 $1,559.88 $0.00 $277.09 $50,843.43
31 $50,843.43 $1,559.88 $0.00 $287.48 $52,690.79
32 $52,690.79 $1,559.88 $0.00 $297.92 $54,548.59
33 $54,548.59 $1,559.88 $0.00 $308.43 $56,416.90
34 $56,416.90 $1,559.88 $0.00 $318.99 $58,295.77
35 $58,295.77 $1,559.88 $0.00 $329.61 $60,185.26
36 $60,185.26 $1,559.88 $0.00 $340.30 $62,085.44
37 $62,085.44 $1,559.88 $0.00 $351.04 $63,996.36
38 $63,996.36 $1,559.88 $0.00 $361.84 $65,918.08
39 $65,918.08 $1,559.88 $0.00 $372.71 $67,850.67
40 $67,850.67 $1,559.88 $0.00 $383.64 $69,794.19
41 $69,794.19 $1,559.88 $0.00 $394.63 $71,748.70
42 $71,748.70 $1,559.88 $0.00 $405.68 $73,714.26
43 $73,714.26 $1,559.88 $0.00 $416.79 $75,690.93
44 $75,690.93 $1,559.88 $0.00 $427.97 $77,678.78
45 $77,678.78 $1,559.88 $0.00 $439.21 $79,677.87
46 $79,677.87 $1,559.88 $0.00 $450.51 $81,688.26
47 $81,688.26 $1,559.88 $0.00 $461.88 $83,710.02
48 $83,710.02 $1,559.88 $0.00 $473.31 $85,743.21
49 $85,743.21 $1,559.88 $0.00 $484.80 $87,787.89
50 $87,787.89 $1,559.88 $0.00 $496.37 $89,844.14
51 $89,844.14 $1,559.88 $0.00 $507.99 $91,912.01
52 $91,912.01 $1,559.88 $0.00 $519.68 $93,991.57
53 $93,991.57 $1,559.88 $0.00 $531.44 $96,082.89
54 $96,082.89 $1,559.88 $0.00 $543.27 $98,186.04
55 $98,186.04 $1,559.88 $0.00 $555.16 $100,301.08
56 $100,301.08 $1,559.88 $0.00 $567.12 $102,428.08
57 $102,428.08 $1,559.88 $0.00 $579.14 $104,567.10
58 $104,567.10 $1,559.88 $0.00 $591.24 $106,718.22
59 $106,718.22 $1,559.88 $0.00 $603.40 $108,881.50
60 $108,881.50 $1,559.88 $0.00 $615.63 $111,057.01
61 $111,057.01 $1,559.88 $0.00 $627.93 $113,244.82
62 $113,244.82 $1,559.88 $0.00 $640.30 $115,445.00
63 $115,445.00 $1,559.88 $0.00 $652.74 $117,657.62
64 $117,657.62 $1,559.88 $0.00 $665.25 $119,882.75
65 $119,882.75 $1,559.88 $0.00 $677.83 $122,120.46
66 $122,120.46 $1,559.88 $0.00 $690.49 $124,370.83
67 $124,370.83 $1,559.88 $0.00 $703.21 $126,633.92
68 $126,633.92 $1,559.88 $0.00 $716.01 $128,909.81
69 $128,909.81 $1,559.88 $0.00 $728.87 $131,198.56
70 $131,198.56 $1,559.88 $0.00 $741.82 $133,500.26
71 $133,500.26 $1,559.88 $0.00 $754.83 $135,814.97
72 $135,814.97 $1,559.88 $0.00 $767.92 $138,142.77
73 $138,142.77 $1,559.88 $0.00 $781.08 $140,483.73
74 $140,483.73 $1,559.88 $0.00 $794.32 $142,837.93
75 $142,837.93 $1,559.88 $0.00 $807.63 $145,205.44
76 $145,205.44 $1,559.88 $0.00 $821.01 $147,586.33
77 $147,586.33 $1,559.88 $0.00 $834.47 $149,980.68
78 $149,980.68 $1,559.88 $0.00 $848.01 $152,388.57
79 $152,388.57 $1,559.88 $0.00 $861.63 $154,810.08
80 $154,810.08 $1,559.88 $0.00 $875.32 $157,245.28
81 $157,245.28 $1,559.88 $0.00 $889.09 $159,694.25
82 $159,694.25 $1,559.88 $0.00 $902.93 $162,157.06
83 $162,157.06 $1,559.88 $0.00 $916.86 $164,633.80
84 $164,633.80 $1,559.88 $0.00 $930.86 $167,124.54
85 $167,124.54 $1,559.88 $0.00 $944.95 $169,629.37
86 $169,629.37 $1,559.88 $0.00 $959.11 $172,148.36
87 $172,148.36 $1,559.88 $0.00 $973.35 $174,681.59
88 $174,681.59 $1,559.88 $0.00 $987.68 $177,229.15
89 $177,229.15 $1,559.88 $0.00 $1,002.08 $179,791.11
90 $179,791.11 $1,559.88 $0.00 $1,016.57 $182,367.56
91 $182,367.56 $1,559.88 $0.00 $1,031.13 $184,958.57
92 $184,958.57 $1,559.88 $0.00 $1,045.78 $187,564.23
93 $187,564.23 $1,559.88 $0.00 $1,060.52 $190,184.63
94 $190,184.63 $1,559.88 $0.00 $1,075.33 $192,819.84
95 $192,819.84 $1,559.88 $0.00 $1,090.23 $195,469.95
96 $195,469.95 $1,559.88 $0.00 $1,105.22 $198,135.05
97 $198,135.05 $1,559.88 $0.00 $1,120.28 $200,815.21
98 $200,815.21 $1,559.88 $0.00 $1,135.44 $203,510.53
99 $203,510.53 $1,559.88 $0.00 $1,150.68 $206,221.09
100 $206,221.09 $1,559.88 $0.00 $1,166.00 $208,946.97
101 $208,946.97 $1,559.88 $0.00 $1,181.42 $211,688.27
102 $211,688.27 $1,559.88 $0.00 $1,196.92 $214,445.07
103 $214,445.07 $1,559.88 $0.00 $1,212.50 $217,217.45
104 $217,217.45 $1,559.88 $0.00 $1,228.18 $220,005.51
105 $220,005.51 $1,559.88 $0.00 $1,243.94 $222,809.33
106 $222,809.33 $1,559.88 $0.00 $1,259.80 $225,629.01
107 $225,629.01 $1,559.88 $0.00 $1,275.74 $228,464.63
108 $228,464.63 $1,559.88 $0.00 $1,291.77 $231,316.28
109 $231,316.28 $1,559.88 $0.00 $1,307.90 $234,184.06
110 $234,184.06 $1,559.88 $0.00 $1,324.11 $237,068.05
111 $237,068.05 $1,559.88 $0.00 $1,340.42 $239,968.35
112 $239,968.35 $1,559.88 $0.00 $1,356.82 $242,885.05
113 $242,885.05 $1,559.88 $0.00 $1,373.31 $245,818.24
114 $245,818.24 $1,559.88 $0.00 $1,389.89 $248,768.01
115 $248,768.01 $1,559.88 $0.00 $1,406.57 $251,734.46
116 $251,734.46 $1,559.88 $0.00 $1,423.34 $254,717.68
117 $254,717.68 $1,559.88 $0.00 $1,440.21 $257,717.77
118 $257,717.77 $1,559.88 $0.00 $1,457.17 $260,734.82
119 $260,734.82 $1,559.88 $0.00 $1,474.23 $263,768.93
120 $263,768.93 $1,559.88 $0.00 $1,491.39 $266,820.20
121 $266,820.20 $1,559.88 $0.00 $1,508.64 $269,888.72
122 $269,888.72 $1,559.88 $0.00 $1,525.99 $272,974.59
123 $272,974.59 $1,559.88 $0.00 $1,543.44 $276,077.91
124 $276,077.91 $1,559.88 $0.00 $1,560.98 $279,198.77
125 $279,198.77 $1,559.88 $0.00 $1,578.63 $282,337.28
126 $282,337.28 $1,559.88 $0.00 $1,596.38 $285,493.54
127 $285,493.54 $1,559.88 $0.00 $1,614.22 $288,667.64
128 $288,667.64 $1,559.88 $0.00 $1,632.17 $291,859.69
129 $291,859.69 $1,559.88 $0.00 $1,650.22 $295,069.79
130 $295,069.79 $1,559.88 $0.00 $1,668.37 $298,298.04
131 $298,298.04 $1,559.88 $0.00 $1,686.62 $301,544.54
132 $301,544.54 $1,559.88 $0.00 $1,704.98 $304,809.40
133 $304,809.40 $1,559.88 $0.00 $1,723.44 $308,092.72
134 $308,092.72 $1,559.88 $0.00 $1,742.00 $311,394.60
135 $311,394.60 $1,559.88 $0.00 $1,760.67 $314,715.15
136 $314,715.15 $1,559.88 $0.00 $1,779.45 $318,054.48
137 $318,054.48 $1,559.88 $0.00 $1,798.33 $321,412.69
138 $321,412.69 $1,559.88 $0.00 $1,817.31 $324,789.88
139 $324,789.88 $1,559.88 $0.00 $1,836.41 $328,186.17
140 $328,186.17 $1,559.88 $0.00 $1,855.61 $331,601.66
141 $331,601.66 $1,559.88 $0.00 $1,874.92 $335,036.46
142 $335,036.46 $1,559.88 $0.00 $1,894.34 $338,490.68
143 $338,490.68 $1,559.88 $0.00 $1,913.88 $341,964.44
144 $341,964.44 $1,559.88 $0.00 $1,933.52 $345,457.84
145 $345,457.84 $1,559.88 $0.00 $1,953.27 $348,970.99
146 $348,970.99 $1,559.88 $0.00 $1,973.13 $352,504.00
147 $352,504.00 $1,559.88 $0.00 $1,993.11 $356,056.99
148 $356,056.99 $1,559.88 $0.00 $2,013.20 $359,630.07
149 $359,630.07 $1,559.88 $0.00 $2,033.40 $363,223.35
150 $363,223.35 $1,559.88 $0.00 $2,053.72 $366,836.95
151 $366,836.95 $1,559.88 $0.00 $2,074.15 $370,470.98
152 $370,470.98 $1,559.88 $0.00 $2,094.70 $374,125.56
153 $374,125.56 $1,559.88 $0.00 $2,115.36 $377,800.80
154 $377,800.80 $1,559.88 $0.00 $2,136.14 $381,496.82
155 $381,496.82 $1,559.88 $0.00 $2,157.04 $385,213.74
156 $385,213.74 $1,559.88 $0.00 $2,178.05 $388,951.67
157 $388,951.67 $1,559.88 $0.00 $2,199.19 $392,710.74
158 $392,710.74 $1,559.88 $0.00 $2,220.44 $396,491.06
159 $396,491.06 $1,559.88 $0.00 $2,241.82 $400,292.76
160 $400,292.76 $1,559.88 $0.00 $2,263.31 $404,115.95
161 $404,115.95 $1,559.88 $0.00 $2,284.93 $407,960.76
162 $407,960.76 $1,559.88 $0.00 $2,306.67 $411,827.31
163 $411,827.31 $1,559.88 $0.00 $2,328.53 $415,715.72
164 $415,715.72 $1,559.88 $0.00 $2,350.52 $419,626.12
165 $419,626.12 $1,559.88 $0.00 $2,372.63 $423,558.63
166 $423,558.63 $1,559.88 $0.00 $2,394.86 $427,513.37
167 $427,513.37 $1,559.88 $0.00 $2,417.22 $431,490.47
168 $431,490.47 $1,559.88 $0.00 $2,439.71 $435,490.06
169 $435,490.06 $1,559.88 $0.00 $2,462.32 $439,512.26
170 $439,512.26 $1,559.88 $0.00 $2,485.07 $443,557.21
171 $443,557.21 $1,559.88 $0.00 $2,507.94 $447,625.03
172 $447,625.03 $1,559.88 $0.00 $2,530.94 $451,715.85
173 $451,715.85 $1,559.88 $0.00 $2,554.07 $455,829.80
174 $455,829.80 $1,559.88 $0.00 $2,577.33 $459,967.01
175 $459,967.01 $1,559.88 $0.00 $2,600.72 $464,127.61
176 $464,127.61 $1,559.88 $0.00 $2,624.24 $468,311.73
177 $468,311.73 $1,559.88 $0.00 $2,647.90 $472,519.51
178 $472,519.51 $1,559.88 $0.00 $2,671.69 $476,751.08
179 $476,751.08 $1,559.88 $0.00 $2,695.62 $481,006.58
180 $481,006.58 $1,559.88 $0.00 $2,719.68 $485,286.14
181 $485,286.14 $1,559.88 $0.00 $2,743.88 $489,589.90
182 $489,589.90 $1,559.88 $0.00 $2,768.21 $493,917.99
183 $493,917.99 $1,559.88 $0.00 $2,792.68 $498,270.55
184 $498,270.55 $1,559.88 $0.00 $2,817.29 $502,647.72
185 $502,647.72 $1,559.88 $0.00 $2,842.04 $507,049.64
186 $507,049.64 $1,559.88 $0.00 $2,866.93 $511,476.45
187 $511,476.45 $1,559.88 $0.00 $2,891.96 $515,928.29
188 $515,928.29 $1,559.88 $0.00 $2,917.13 $520,405.30
189 $520,405.30 $1,559.88 $0.00 $2,942.45 $524,907.63
190 $524,907.63 $1,559.88 $0.00 $2,967.90 $529,435.41
191 $529,435.41 $1,559.88 $0.00 $2,993.50 $533,988.79
192 $533,988.79 $1,559.88 $0.00 $3,019.25 $538,567.92
193 $538,567.92 $1,559.88 $0.00 $3,045.14 $543,172.94
194 $543,172.94 $1,559.88 $0.00 $3,071.18 $547,804.00
195 $547,804.00 $1,559.88 $0.00 $3,097.36 $552,461.24
196 $552,461.24 $1,559.88 $0.00 $3,123.70 $557,144.82
197 $557,144.82 $1,559.88 $0.00 $3,150.18 $561,854.88
198 $561,854.88 $1,559.88 $0.00 $3,176.81 $566,591.57
199 $566,591.57 $1,559.88 $0.00 $3,203.59 $571,355.04
200 $571,355.04 $1,559.88 $0.00 $3,230.52 $576,145.44
201 $576,145.44 $1,559.88 $0.00 $3,257.61 $580,962.93
202 $580,962.93 $1,559.88 $0.00 $3,284.85 $585,807.66
203 $585,807.66 $1,559.88 $0.00 $3,312.24 $590,679.78
204 $590,679.78 $1,559.88 $0.00 $3,339.79 $595,579.45
205 $595,579.45 $1,559.88 $0.00 $3,367.49 $600,506.82
206 $600,506.82 $1,559.88 $0.00 $3,395.35 $605,462.05
207 $605,462.05 $1,559.88 $0.00 $3,423.37 $610,445.30
208 $610,445.30 $1,559.88 $0.00 $3,451.55 $615,456.73
209 $615,456.73 $1,559.88 $0.00 $3,479.88 $620,496.49
210 $620,496.49 $1,559.88 $0.00 $3,508.38 $625,564.75
211 $625,564.75 $1,559.88 $0.00 $3,537.03 $630,661.66
212 $630,661.66 $1,559.88 $0.00 $3,565.85 $635,787.39
213 $635,787.39 $1,559.88 $0.00 $3,594.83 $640,942.10
214 $640,942.10 $1,559.88 $0.00 $3,623.98 $646,125.96
215 $646,125.96 $1,559.88 $0.00 $3,653.29 $651,339.13
216 $651,339.13 $1,559.88 $0.00 $3,682.77 $656,581.78
217 $656,581.78 $1,559.88 $182,879.00 $3,712.41 $478,975.07
218 $478,975.07 $1,559.88 $0.00 $2,708.19 $483,243.14
219 $483,243.14 $1,559.88 $0.00 $2,732.33 $487,535.35
220 $487,535.35 $1,559.88 $0.00 $2,756.60 $491,851.83
221 $491,851.83 $1,559.88 $0.00 $2,781.00 $496,192.71
222 $496,192.71 $1,559.88 $0.00 $2,805.55 $500,558.14
223 $500,558.14 $1,559.88 $0.00 $2,830.23 $504,948.25
224 $504,948.25 $1,559.88 $0.00 $2,855.05 $509,363.18
225 $509,363.18 $1,559.88 $0.00 $2,880.01 $513,803.07
226 $513,803.07 $1,559.88 $0.00 $2,905.12 $518,268.07
227 $518,268.07 $1,559.88 $0.00 $2,930.36 $522,758.31
228 $522,758.31 $1,559.88 $0.00 $2,955.75 $527,273.94
229 $527,273.94 $1,559.88 $192,022.95 $2,981.28 $339,792.15
230 $339,792.15 $1,559.88 $0.00 $1,921.23 $343,273.26
231 $343,273.26 $1,559.88 $0.00 $1,940.92 $346,774.06
232 $346,774.06 $1,559.88 $0.00 $1,960.71 $350,294.65
233 $350,294.65 $1,559.88 $0.00 $1,980.62 $353,835.15
234 $353,835.15 $1,559.88 $0.00 $2,000.64 $357,395.67
235 $357,395.67 $1,559.88 $0.00 $2,020.77 $360,976.32
236 $360,976.32 $1,559.88 $0.00 $2,041.01 $364,577.21
237 $364,577.21 $1,559.88 $0.00 $2,061.37 $368,198.46
238 $368,198.46 $1,559.88 $0.00 $2,081.85 $371,840.19
239 $371,840.19 $1,559.88 $0.00 $2,102.44 $375,502.51
240 $375,502.51 $1,559.88 $0.00 $2,123.15 $379,185.54
241 $379,185.54 $1,559.88 $201,624.09 $2,143.97 $181,265.30
242 $181,265.30 $1,559.88 $0.00 $1,024.90 $183,850.08
243 $183,850.08 $1,559.88 $0.00 $1,039.52 $186,449.48
244 $186,449.48 $1,559.88 $0.00 $1,054.21 $189,063.57
245 $189,063.57 $1,559.88 $0.00 $1,068.99 $191,692.44
246 $191,692.44 $1,559.88 $0.00 $1,083.86 $194,336.18
247 $194,336.18 $1,559.88 $0.00 $1,098.81 $196,994.87
248 $196,994.87 $1,559.88 $0.00 $1,113.84 $199,668.59
249 $199,668.59 $1,559.88 $0.00 $1,128.96 $202,357.43
250 $202,357.43 $1,559.88 $0.00 $1,144.16 $205,061.47
251 $205,061.47 $1,559.88 $0.00 $1,159.45 $207,780.80
252 $207,780.80 $1,559.88 $0.00 $1,174.82 $210,515.50
253 $210,515.50 $0.00 $211,705.30 $1,190.29 $0.49